3 ms·

I don't think it does. The US has a unique fiscal setup (federal and state), fiscal transfer, etc. The rest of the globe doesn't have this. Europe, probably the

I don't think it does. The US has a unique fiscal setup (federal and state), fiscal transfer, etc. The rest of the globe doesn't have this. Europe, probably the second biggest economic bloc after the US, doesn't have this either. Remember also that the USD is the world's base currency, it is the currency in which oil is traded globally (petrodollar). This means that monetary policy in the US has _far reaching_ consequences around the world in a way that any other currency bloc just does not. So its not mirroring anything -- it's unique.

ggm 4y ago
This I agree with. I made flippant remarks some months back about the Californian state budget. My goodness it's complicated! And that thing about the fiscal process for the federal budget meaning on many occasions, all federal workers are simply told to stop. Unreal!
shaburn 4y ago
*mirrors the rest of the world combined. IE ex-US_world_economic_complexity == US_economic_complexity